I have to maintain new tax code i.e. 10.3% service tax & 13.5% VAT.
Calculation: For e.g.
Basic Price Rs. 100
Now service tax will calculate on Basic price i.e. Rs. 10.30
and VAT will also calculate on Basic price i.e. Rs. 13.5
Total Value: Rs. 123.80
Now please suggest how to maintain new tax code, how to define pricing & which condition will be maintain.
Thanks & regards
Pricing Procedure and tax calculation schema is different...
on M/08 u define simple pricing proc..where u can define various cond type...for basic amount, discount, surcharges etc..
and for taxes u have to define Tax calculation schema...
SPRO...Financial Accounting (New)...Financial Accounting Global Settings (New)..Tax on Sales/Purchases..Check Calculation Procedure...define Procedure..
here u will define ur tax procedures and and take the tax condition type for service tax and VAT..
after that assign this tax proc to country. in next step..
try this out...
hope it works..
tax code will be assigned to company code & not to tax procedure. Since in TAXINN is condition based, the % of tax for the specified tax condition will automatically flow to the PO through the tax code.
Once you create a new Z tax procedure, just add the tax condition types for service tax & vat ( JSER & JVRD) in the tax procedure. Then maintain condition records for the same ans system will calculate accordingly based on the % maintained in condition recors in FV11.
for creating a new tax code go to T-code FTXP
enter countrydesired tax code ( I.E V0,V1) ans just save.Tax code will be created. Then you have to maintain the % for the required conditions(JSER & JVRD) in T-code FV11.
Also don't forget to add condition types for service tax & Vat in the tax procedure.